A property is probably the most important financial decision you make in your life. You spend a fortune to get hold of that much awaited dream home. Even if you buy a property for the sole purpose of investing and earning profits, the money you spend matters a lot. It is not just about the speculations and the ups and downs of the real estate world, it is also about how smartly you spend your hard-earned money.

One of the factors that highly affect the prices and risk factor of a property purchase is the stage of construction. The property in which you invest, can either be in the pre-launch, under-construction or ready to move in stage. As the property reaches completion, the prices rise and risk factor lowers. Hence, a property in pre-launch stage is the most risky but least priced.

Let us discuss the stages with respect to investment in some detail:

Pre-Launch Stage:- The pre-launch and soft-launch stages are the most risky as a lot depends on the authorities. In these stages, many of the approvals are lacking with the builder. So if the unfortunate flipside happens, you could lose your money. But since the properties in this stage are very affordable, most of the investors are attracted towards it. Several new launch projects in Ghaziabad, Faridabad and in other parts of NCR are being advertised. You must check the background of the developer; find out if his previous projects were completed as promised. Find out if he is under any litigation default. Invest only if you are satisfied with your investigation.

Launch and Under-construction Stage:- This is touted as the most preferred stage to invest in a real estate property. The approvals are in place and the prices have slightly increased. The risk factor is also diminished as the construction work is in full swing. You would make a very good profit if you invest during the beginning of this stage; prices soar as the building takes shape.

Ready to Move-in Stage:- As the property nears completion, prices soar and risk is the least. This stage would be good to buy if you are looking for a home you can immediately shift to. But if it is for investment purpose, completion stage is not very advisable. It burns a hole in your pocket but the returns are not that high.

Resale Stage:- A resale property would also be a good idea if you want to immediately shift to a new house in a well-established neighbourhood. You will also get to see the house exactly how it is. You will also get the amenities and facilities available in the house and in the neighbourhood. The prices will also be reasonable enough for this buy.

So which stage do you prefer? Pre-launch, under-construction, completion or resale? Do let us know by commenting below.